This is a great bond fund to own if you are looking for a low-risk income fund. PDVDX offers stability, monthly income, global diversification and limited downside. Mohamad El-Erian, currently with Harvard University as their endowment officer, used to manage this fund. PIMCO is understood to be a specialist and market leader in the bond industry. This is a no-load, no-fee fund at Schwab. Only penalty is a 2% fee for funds sold within 30 days of purchase.